Conference Programme
Programming determined with the assistance of the Vlerick Leuven Gent Management School
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Wednesday, 3 October 2007
18.30 – 20.00 |
Registration Welcome Reception and Cocktails, Foyer, Conrad Hotel Brussels |
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Thursday, 4 October 2007
08.30 – 09.15 |
Registration and refreshments |
09.15 – 10.30 |
Opening General Session |
09.15 – 09.30 |
Welcome remarks by Conference Chair, Xavier Baeten, Vlerick Leuven Gent Management School |
09.30 – 10.15 |
Keynote Speech: Professor Soumitra Dutta Global Perspectives on Technology-enabled Innovation, Talent Management and the Knowledge Economy |
10.15 – 10.30 |
Q&A with audience |
10.30 – 11.00 |
Networking break and refreshments |
11.00 – 12.15 |
Plenary Session: WorldatWork Panel Debate Aligning Total Rewards to Drive Business Success How can Total Rewards help businesses flourish in a global environment? Does aligning rewards with business strategy optimise business outcomes? Can aligning rewards with an organisation’s culture boost motivation and engagement? In this interactive discussion, Anne Ruddy CCP, CPCU, President of WorldatWork, and Mark Hudson, Senior Vice President, International Compensation and Benefits with Bank of America and current WorldatWork Global Advisory Board member, will share results from recent research into global rewards strategies and optimal business practices. Anne and Mark will present a compelling framework that businesses can use to help focus on outcomes such as attracting and retaining key talent, linking rewards and results, and developing a common corporate culture. Audience members will be invited to participate in a question and answer session, and given an opportunity to share their own experiences.
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12.15 – 14.00 |
Lunch |
14.00 – 17.45 |
Concurrent Workshop Sessions |
14.00 – 15.00 |
Session 1 1A Achieving the Right Balance Between Global and Local Compensation Design and Administration A recent global survey conducted by Mercer of more than 150 multinationals found that a vast majority of multinational organisations are (or will) be making substantial changes to their compensation programmes – most by harmonising programmes across geographies and/or centralising administration. However, there are significant differences between organisations with respect to the populations and programmes that are included. Moreover, not all recent efforts at “globalisation” have been successful. With the results of Mercer's recent global compensation design and administration as a backdrop, we will present the somewhat different paths two prominent multinational organisations have taken with their rewards programmes – one towards greater centralisation and the other towards greater regionalisation, and how they have found the right balance between global and local compensation practices. Based on real-life testimonials, all issues will be explored from the perspective of the strategies driving their decisions to show how their programmes are administered.
1B The Future of Total Rewards: How to Square the Circle of Balancing Employee Needs and Investor Expectations Companies are facing the challenge of responding to the needs of a diverse workforce while at the same time optimising the return on their rewards investment. This session will give attendees an in-depth insight into the impact that true flexible rewards can bring to their organisations. Sharing the journey that one global financial services organisation took to bring the concept of total rewards to life by using flex to the fullest, attendees will receive practical tips on how leading-edge global companies are "packaging" their flex offerings to enhance workforce engagement and build powerful employer brands, while at the same time managing costs.
1C Rewards and the Ageing Workface Business growth is supported by people who work, earn a living, and add value to goods or services. Yet the average age of the workforce in Europe, America and in selected other countries, like Japan, is ageing. Coupled with a lower birth rate, it means that businesses are faced with the prospect of not having enough ready trained people to help create economic value. We will briefly define the issues at hand, contrasting their different stages of evolution and then look at what companies around the world are doing to address them. We will examine such issues as: (a) the outsourcing solution, (b) multi-generational workforce issues, (c) the effect of delayed retirement and other strategies to extend retention and (d) other reward and retention issues with an ageing workforce.
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15.00 – 15.15 |
Networking break and refreshments |
15.15 – 16.15 |
Session 2 2A Getting the Balance Right - Work Life Challenges for International Assignees As organisations increasingly become subjected to the forces of globalisation, both the pressure to increase competitiveness and the demands on people become even stronger. But dedication of people’s lives to their working environment brings physical and emotional pressures on employees and their families. Work-life balance is therefore critical to success in today’s modern business world and even more so for executives and their families who are globally mobile. This workshop will share the results of a major survey into work- life balance issues for employees and their families transferred on international assignments. By sharing international trends and data, it will compare the results against a survey conducted among executives in their home country. By taking a strategic approach to the benefits for individuals and organisations with work-life initiatives, this workshop also highlights the importance of involving employees in developing and implementing work-life programmes.
2B Stock and LTI Trends in the High-Tech Industry This workshop provides a comprehensive view of current trends in the long-term incentive plans of high-technology companies for stock options, restricted stock and performance plans, including eligibility, participation and design features. Surveys in Radford’s extensive global database show the current trends and developments in global equity as well as how equity values as a percentage of the total direct compensation package. The survey information of the market value of various companies’ equity packages is divided by country, region, job position category, position level, regional versus headquarters’ practices and more. With pros and cons of each common methodology for valuing equity described and a step-by-step guide, this workshop also helps attendees compare the value of their own equity package with their competitors and develop equity guidelines to fit their compensation strategy.
2C Sales Force Productivity and Rewards Driving performance and productivity is the main focus in sales force management and compensation is a powerful tool to achieve that. This session will discuss the areas high performing organisations focus on to increase productivity and the latest trends in sales compensation design. Case studies will also illustrate implementation and governance issues that professionals should be aware of.
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16.15 – 16.45 |
Networking break and refreshments |
16.45 – 17.45 |
Session 3 3A Developments in Corporate Governance: Impact on Executive Compensation Europe is now leading the world in corporate governance practice. Each year in the UK, the remuneration report of listed companies is put to a shareholder vote. Alan Judes, of Strategic Remuneration, will give details of the UK legislation and introduce a panel of corporate governance practitioners who will give their own perspectives on developments and likely future convergence in Europe. The panellists will explain and debate why the US should fall into line with European practice, why executive remuneration is top of the priority list for investors, and the issues facing the world’s largest pension fund. This discussion will help attendees identify when to consider the reaction of investors to a change in remuneration policy and understand an organisation’s actions and a country’s standards.
3B Developing and Implementing a Global Reward Programme: Case Study - Vanco Plc By looking at the actions of Vanco Plc, the leading global virtual network operator, thomsons online benefits will outline why more companies are implementing global reward programmes, discuss the advantages of this approach and what needs to be considered to make it work. As Vanco grew and opened new offices internationally, employees throughout different countries received different remuneration packages, which led to communication and administrative difficulties. In 2003, Vanco implemented a global flexible benefits scheme called “v:choice” simultaneously in eight countries. Since the initial launch, this award-winning programme has been extended to seven more countries as Vanco continues to open and acquire new global offices. The presenters will share best practices for implementing a global rewards programme, the potential pitfalls and how to avoid them, and tips for successful implementation.
3C The Global Defined Benefit Migration As global companies sharpen their focus on managing costs and risks, traditional defined benefit pension plans are coming in for more scrutiny. This has resulted in shifts toward less risky DB plan designs and growing emphasis on DC plans in many countries. In describing the move away from defined benefit plans, attendees will gain insight into some of the key issues and challenges involved in this decision. By looking at one global company’s ongoing effort to align its retirement plan with its evolving business strategy, this session looks at how to migrate from a traditional DB strategy worldwide. This will change individual organisational behaviour by providing direct access to information on what other global companies have done to address the risks that pension plans create on the company balance sheet and income statement.
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19.30 – 21.30 |
Networking Dinner |
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Friday, 5 October 2007
08.45 – 12.30 |
Concurrent Workshop Sessions |
08.45 – 09.45 |
Session 4 4A Making Reward Work: a Case of Strategy or Fundamentals? Although all organisations are subject to different regional pressures, industry considerations, economic cycles and social shifts, most are attempting to balance a challenging talent agenda with cost and growth considerations when implementing a Reward strategy. The issues of high performance and behavioural shifts are also on the to-do list. Many of the same issues would have been relevant when reward plans were being devised for the parents of the current crop of talent. As compensation professionals and HR experts, where did we go wrong? Why are these issues still unresolved? Many organisations have embarked on the strategic reward journey without the right fundamentals in place and others have spent too much time and effort on the reward fundamentals where strategic reward items require attention. Through research and analysis, this workshop shows that a balance of both reward ‘fundamentals’ and strategic reward initiatives need to be addressed in proper order to address the important issues.
4B Designing a Management Reward Policy in an International Context: Challenges and Threats for Incentive Design and Performance Management The case study presents two industrial stock-listed companies with different market and cultural strengths: an Anglo-Saxon capital market culture and a more conservative culture focusing on a German stakeholder perspective. As a result, both management reward systems aligned to different reference markets had different pay mix as well as variable mix and operated in different in corporate governance cultures. By discussing how the merger integrated a new reward policy that was in line with German corporate governance and acceptable to UK standards, the presenters will give insights into how to merge policies in your own growing companies. They will focus on the cornerstones of the policy, the way to proceed through pitfalls and how to communicate a clear understanding of the new policy, including answering what performance means in the new company.
4C Engaging High-Potential Employees Through Total Reward An organisation is only as good as its people and it is essential for the long-term competitiveness of any organisation that the employment needs of its top- performers and high-potential employees in particular are understood and delivered upon. In addition, raising engagement levels among the rest of the organisation by even a small percentage will yield significant return in organisational performance. To successfully manage this in the most effective way a clearly defined and properly executed total reward strategy helps to ensure that all aspects of the employment proposition work together to effectively engage employees, drive the right behaviours and ultimately deliver optimum performance.
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09.45 – 10.00 |
Networking break and refreshments |
10.00 – 11.00 |
Session 5 5A Making a Large Acquisition in Europe: the Old Mutual – Skandia Case Study Old Mutual plc launched a bid for Skandia, Sweden’s oldest-listed insurer, in 2005. The financial circumstances of each company were different and the acquisition would have a significant impact on the performance hurdles of Old Mutual’s subsisting LTIP awards. Alan Judes of Strategic Remuneration will discuss the background to this corporate governance issue; explain how shareholders were approached and why a separate resolution was put to shareholders to approve adjustments to targets—to help attendees understand how to discuss key adjustments to stock plans with their own shareholders. In explaining the issues that arise in a major cross-border acquisition, Kevin Stacey will then tell the story of how Old Mutual found itself making a hostile bid and then acquired and integrated Skandia into its global business. He will explain how Skandia’s key subsidiaries were brought into the Old Mutual performance management and share incentive plans.
5B Total Rewards Challenges in the Emerging Markets of Eastern Europe and the Middle East There is significant growth in the economies in Eastern Europe and the Middle East, mainly driven by the relocation of manufacturing in the case of Eastern Europe and revenues from oil and gas in the Middle East. Many western companies are establishing operations there or, alternatively, creating strategic alliances with partners in the region. However, many of the rewards practices familiar to Western European and US companies do not apply in Eastern Europe and the Middle East. These regions are not just an extension of Europe; they are very distinct regions with many diverse and unique cultures and people practices. European Mercer consultants have worked extensively with companies in Eastern Europe and the Middle East to align their rewards strategies with their business strategies. Mercer, along with one of these clients, will outline the unique characteristics of these markets and the challenges they present. In addition, the practices in these regions present an opportunity for companies to learn some new ways of working that perhaps should be adopted in Western Europe to combat the growing concerns about lack of competitiveness and rising employment costs.
5C Links From Executive Pay to Executive Performance Executive remuneration is a hot topic. The media and public concern tend to focus only on the level of compensation received by CEOs and other top executives. However, this amount should not be the focal point of discussion, and it will not be the focus of this workshop. Shouldn’t the focus be on the performance criteria that have been used in order to reward these CEOs and top executives? During this workshop, we will answer the following questions:
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11.00 – 11.30 |
Networking break and refreshments |
11.30 – 12.30 |
Session 6 6A Building an Award-Winning Work-Life Effectiveness Culture In addition to legislated benefits that support working families, multinational companies are focusing on designing work-life initiatives to enhance recruitment, retention and employee engagement. This session will bring together leading US and international HR consulting firm representatives discussing the latest research, trends and innovations in the work-life field. In addition to best practices, HR professionals will discuss the practical implications work-life has on total rewards. Several years ago, Dow Corning’s CEO announced a Global Work-Life Effectiveness Initiative to help employees in 45 countries better manage their work and life responsibilities. Their work in this area has resulted in Dow Corning being named to several “100 Best Companies” lists. Specific areas to be addressed include the common and unique challenges employees in Europe face related to workplace flexibility, dependent care, services for families, and overwork.
6B Rewards Transformation: Combining Talent and Total Rewards Strategy to Improve Business Value Determining the return on investment (ROI) for compensation and benefits – probably the largest operating expense for many companies – has always been a challenge to HR professionals and a request of finance professionals. Add in the total rewards costs of a company, including training, tuition reimbursements and a host of other tangible and intangible costs, and the overall picture becomes even less clear. Rewards transformation looks at the total reward package through dialogue with critical workforce segments. Through rewards dialogue, HR and management gather data from key, talented employees on which rewards are most important to them and which are less critical. Armed with this data, HR and management can make modifications to the rewards package to maximise the value. The result is a powerful new methodology for linking talent strategy to rewards strategy, all the while maximising ROI and/or cost- effectiveness of total rewards.
6C Challenges for HR Professionals During M&A Transactions In this workshop Hay Group will partner with the HR Director and Reward Director from Alliance Boots plc to share insights into the challenges posed to HR functions during global M&A transactions. Peter Christie will share the results of research conducted with the Sorbonne University on the critical HR issues that need to be addressed through the lifecycle of an M&A deal – from inception of the transaction through completion of the integration programme. His talk will highlight the priority areas that have the most impact on the creation of value during the transaction and also identify issues which commonly lead to the deal failing to deliver expected returns to stakeholders. Andrew Stemp from Alliance Boots plc will share his experience of having recently completed a major pan-European merger to become Europe's leading pharmacy-led beauty and healthcare retailer. Alliance Unichem was a pan-European business that had grown by acquisition from its Italian roots to develop a network across Europe with strong presence in Italy, France, Germany and UK; Boots was a long-established UK retailer that had expanded organically into 14 countries across the world. He will share his experience of leading the HR work stream to meld profoundly different business cultures into a single entity. The workshop will have a major focus on the reward issues raised by such transactions but will also explore the wider HR agenda and the impact on organisation design, talent management, and employee engagement.
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12.30 – 14.30 |
Lunch and Closing Keynote Presentation |
13.45 – 14.30 |
Keynote Speech: Richard Reeves Putting the Pleasure Back into Work: Re-Evaluating Modern Working Life |
14.30 |
Close of Conference |
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